SOL/BTC – 1H – BUYThe combination Solana/Bitcoin (SOL/BTC) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 0.001632600 is expected.
Caution: A possible trend reversal in the direction of the support line at 0.001486200 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.001688300 |
| 2nd High | 0.001637600 |
| Next High | 0.001632600 |
| Current Price | 0.001664000 |
| Next Low | 0.001486200 |
| 2nd Low | 0.001479400 |
| 3rd Low | 0.001445000 |
0.001536300 – 0.001503600 – 0.001395300 – 0.001486200 – 0.001479400 – 0.001445000
Trading Signals: FOREX – SOL – SOL/BTC – BTC – Bullish Engulfing – Rising Wedge Chart Pattern